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The Latest Breaking News on Financial Services

Barclays chief praises Wimbledon bosses for ‘resisting’ calls to drop bank’s sponsorship

UK lender has faced backlash for providing services to climate polluters and defence firms with alleged links to Gaza war

The Guardian - UK

HSBC shareholders to receive further $4.8bn as profits rise

Outgoing CEO Noel Quinn will have paid $34.4bn to investors during final 18 months in post

The Guardian - UK

Readers reply: Why do Visa and Mastercard advertise to consumers?

The long-running series in which readers answer other readers’ questions on subjects ranging from trivial flights of fancy to profound scientific and philosophical concepts

The Guardian - UK

From analysis to the latest developments in health,
read the most diverse news in one place.

Barclays issues romance scam warning after seeing a jump in claims

Men are more likely to report falling victim to a romance scam, but women are more likely to lose more money, according to the bank’s analysis.

The Independent UK

NatWest takes £24m hit from abandoned ‘Tell Sid’-style campaign

Bank left with costs from Sir Trevor McDonald-fronted campaign after early election halted rollout

The Guardian - UK

Four major banks breached rules to help keep customers informed

Lloyds, TSB and AIB have confirmed they are making changes and HSBC has been issued with directions, the Competition and Markets Authority said.

The Independent UK

Lloyds predicts drop in defaults on loans and mortgages as UK economy improves

Bank sets aside just £44m for bad debts and defaults in second quarter amid upbeat outlook

The Guardian - UK

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Banks closing branches will have to protect customers’ access to cash – watchdog

The Financial Conduct Authority said new rules will come into effect from September 18.

The Independent UK

Who is unbanked in the US?

How do the 6% of Americans without a bank account use their money?

USAFacts

Stock market today: Asian shares are mixed after Wall Street breaks losing streak

Shares are mixed in Asia after a rally on Wall Street

The Independent UK

Northern Rock ‘mortgage prisoners’ sue TSB subsidiary that bought their loans

Borrowers say Whistletree charged inflated interest rates when it took on their debt after lender’s collapse

The Guardian - UK

Exiled pro-democracy Hong Kong activists blocked from accessing pensions

Case raises questions about complicity of western financial institutions in persecution of Chinese government critics

The Guardian - UK

JPMorgan Chase commits $6 Million Investment to expand Latino homeownership opportunities

Philanthropic funding will support UnidosUS capacity building and their HOME (Home Ownership Means Equity) initiative

Latin Times

Treasury Department Warns Against State Laws Restricting Banks

Treasury Department warns against state laws limiting banks from considering ESG factors, citing national security risks.

Top News

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The Independent UK

NatWest makes banking app available on Apple’s Vision Pro headset

Personal banking customers of NatWest and its sister brands, Royal Bank of Scotland and Ulster Bank, will be able to use the technology.

The Guardian - UK

Canary Wharf Group to carve chunks out of HSBC tower after bank leaves

Revamp of 42-storey block when bank moves out in 2027 will include new terraces and leisure facilities

The Guardian - UK

‘More politicised than any other bank’: HSBC’s new boss prepares to ride the Chinese tiger

Georges Elhedery learned Mandarin in preparation for the top job, a sign that he grasps exactly where his lender’s strength and weakness lie

The Independent UK

Nationwide admits it faces ‘challenges’ in years-long Virgin Money merger

The building society defended the £2.9 billion takeover to members during its annual general meeting on Wednesday.

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news in one place.

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International Business Times

HSBC Names CFO Elhedery As Next Chief Executive

HSBC on Wednesday named chief financial officer Georges Elhedery as the bank's next chief executive to drive "the next phase of development and growth".

The Independent UK

Lloyds Bank sued for discrimination by employees disciplined over pro-Palestine views

Afra Sohail and Aunngbeen Khalid were subject to disciplinary action for their comments by their employer Lloyds Bank

The Guardian - UK

Disused Lloyds office sites to be converted into social housing

Exclusive: Bank launches project by selling Pudsey site as CEO says Labour’s commitment to sector is ‘clearer’ than last government’s

AAP

Banks lashed for ripping off poorer customers

The market watchdog has slammed four major banks for causing financial distress to more than two million Australians by systematically overcharging on fees.

AAP

Aussie 'FinFra': Magic wand for technology trailblazers

Australia faces a deadline for decommissioning the decades-old payments system for handling wages, bills and welfare as the velocity of the economy increases.

International Business Times

Mixed Profits At US Banks Amid Weaker Signs From Low-income Customers

JPMorgan Chase and Citigroup reported increased second-quarter profits Friday despite somewhat higher costs to account for bad loans in light of greater stress on lower-income customers.

Kiplinger

Wells Fargo Stock Falls Despite Q2 Beat: Buy, Sell or Hold?

Wells Fargo stock is down despite reporting better-than-expected second-quarter earnings results. Here’s what you need to know.

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